APE - Will Probably Take Profit Soon

Thought i'd show you this one in advance.

This ascending wedge looks very corrective and with downside confirmation potentially arriving from other markets, APE could be set to tumble.

Its hit a 1:1 and a key resistance point so good chance this is an ABC that will see significant downside.

I'll be waiting for the trendline break though since it could still have a surprise pump as cryptos love to do.

But if it does break then this will be around a 100% trade from entry that I posted 2 months ago while the herd were sleeping 🛌.

I'll be back to buy more APE down the road.

Not advice.

Kommentera:

I updated APE to my BTC thread - this domed top is corrective = bearish.

Kommentera:

Trendline crossed, 1:1 fib hit, sloppy price action recognised. Downside potential now greater than upside, at least for now. It may have a cheeky short squezze pump, i'm not interested. I'm out and I think it gets back to my blue band (at least).

Kommentera:

Phew! Glad I exited when I did. It was fun while it lasted 😸.

Much more downside to come potentially.